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Pandora Files for Proposed Initial Public Offering
Oakland, CA - Feb 11, 2011 - Pandora Media has filed a registration statement with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its common stock. The number of shares to be offered and the price range for the offering have not yet been determined, but the netcaster hopes to raise $100 million in the offering.
Pandora, which began operation in 2000, has been operating with venture capital since its start. Music royalty issues plagued the company's operation until 2009 when a rate that better fit the Pandora business plan was negotiated.
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